EnQuest (LON:ENQ) Trading 6.7% Higher – Here’s Why

EnQuest PLC (LON:ENQ)’s share price was up 6.7% during mid-day trading on Friday . The company traded as high as GBX 25.65 and last traded at GBX 25.50. 14,754,142 shares were traded during mid-day trading, an increase of 6% from the average session volume of 13,890,588 shares. The stock had previously closed at GBX 23.90.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Shore Capital Group reissued a “buy” rating on shares of EnQuest in a research note on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of EnQuest from GBX 29 to GBX 35 and gave the company an “overweight” rating in a report on Friday, July 3rd. Finally, Jefferies Financial Group restated a “restricted” rating and set a GBX 25 price objective on shares of EnQuest in a research report on Thursday, June 11th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, EnQuest currently has a consensus rating of “Buy” and an average price target of GBX 26.40.

EnQuest Stock Up 6.7%

The stock has a market cap of £474.58 million, a price-to-earnings ratio of 255.00, a P/E/G ratio of 0.07 and a beta of 0.02. The company has a current ratio of 0.72, a quick ratio of 0.75 and a debt-to-equity ratio of 204.44. The firm’s 50 day moving average is GBX 21.57 and its two-hundred day moving average is GBX 17.98.

EnQuest Company Profile

EnQuest is providing creative solutions through the energy transition.

EnQuest is an independent energy company. We focus on mature late-life assets, responsibly optimising production to provide energy security. Where we can, we repurpose our infrastructure to deliver renewable energy and decarbonisation projects before executing world-class decommissioning.

Shares in the Company trade on the London Stock Exchange (ENQ.L).